THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND SUPERVISION OF THE FINANCIAL MARKET AND THE FINANCIAL ORGANIZATIONS

of September 30, 2005 No. 360

About requirements to foreign legal entities, and also members of the International financial center "Astana" for membership on the stock exchange

According to Item 3 of article 86 of the Law of the Republic of Kazakhstan "About the security market" the Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations (further - the Agency) DECIDES:

1. Determine that can be members of stock exchange:

the members of the International financial center "Astana" having the corresponding licenses of Committee of the International financial center "Astana" on regulation of financial services on implementation of broker and (or) dealer services;

the foreign legal entities corresponding to one of the given conditions:

1) being members of the stock exchanges which are part of World Federation of the exchanges (The World Federation of Exchanges);

2) the having corresponding licenses of authorized body of the country of residence for implementation of broker and (or) dealer activities. The admission of the specified foreign legal entities to the biddings on the stock exchange is possible only in the presence of international agreements about cooperation and exchange of information between authorized bodies in the field of supervision of broker and (or) dealer activities;

3) the having corresponding licenses of authorized body of the country of residence for implementation of clearing activities which signs the Multilateral memorandum of understanding concerning consultations, cooperation and exchange of information of International Organization of Securities Commissions.

2. This resolution becomes effective after fourteen days from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan.

3. To department of strategy and analysis (Edenbayev E. S.):

1) together with Legal department (Baysynov M. B.) to take measures to state registration in the Ministry of Justice of the Republic of Kazakhstan of this resolution;

2) in ten-day time from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan to bring this resolution to the attention of the interested divisions of the Agency, the organizer of the biddings, consolidation of legal entities "Association of financiers of Kazakhstan".

4. To department of the international relations and public relations of the Agency (Pernebayev T. Sh.) provide the publication of this resolution in mass media of the Republic of Kazakhstan.

5. To impose control of execution of this resolution on the vice-chairman of the Agency Bakhmutova E. L.

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